Statement by an IMF Mission to Iceland
A mission from the International Monetary Fund (IMF), led by Julie Kozack, visited Reykjavík during June 21–July 1 to hold discussions for the sixth review under the US$2.1 billion Stand-By Arrangement (SBA, see Press Release No. 08/296 ). The mission met with government officials, parliamentarians, academics, representatives of the private sector, and labor organizations.

Germany criticises proposed EU budget as ‘irresponsibly high’
GERMANY blasted as “irresponsibly high” the European Commission’s proposal for the next 2014-2020 budget, saying it set a poor example during the eurozone debt crisis.